The Strategy of a Market Leader, Which Identifies Little Competition

question 19

Multiple Choice

the strategy of a market leader, which identifies little competition, will be different from that of a small firm trying to establish a small market share. The former may try to dominate the whole market, whereas the latter may attack the leader or find a small underserviced segment, called a -------------, and make that market its own.

• A) niche market
• B) mass market
• C) Competitive advantage
• D) mass media

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Definitions:

Problem Space

The theoretical space that includes all the possible states or configurations that could occur when solving a problem.

Algorithms

Step-by-step problem-solving procedures or rules for calculations, data processing, and automated reasoning tasks.

Clearly Defined

To be specified or described in precise or exact terms.

Mental Set

A psychological tendency to approach situations in a certain way based on previous experiences and perceptions.